Iron Triangle Partners LP Makes New $8.24 Million Investment in Indivior PLC (NASDAQ:INDV)

Iron Triangle Partners LP bought a new position in shares of Indivior PLC (NASDAQ:INDV) in the third quarter, Holdings Channel reports. The fund bought 845,470 shares of the company’s stock, valued at approximately $8,243,000. Indivior makes up approximately 1.1% of Iron Triangle Partners LP’s investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors have also made changes to their positions in INDV. Bank of New York Mellon Corp acquired a new stake in shares of Indivior in the second quarter valued at $188,000. VELA Investment Management LLC bought a new position in shares of Indivior in the second quarter worth $235,000. XTX Topco Ltd bought a new position in shares of Indivior in the 2nd quarter valued at $249,000. Verition Fund Management LLC bought a new stake in shares of Indivior in the 3rd quarter valued at $375,000. Finally, Cubist Systematic Strategies LLC grew its position in Indivior by 32.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,236 shares of the company’s stock valued at $407,000 after purchasing an additional 6,121 shares during the period. 60.33% of the stock is currently owned by institutional investors and hedge funds.

Indivior Price Performance

Shares of INDV opened at $11.23 on Tuesday. Indivior PLC has a 52-week low of $7.33 and a 52-week high of $23.22. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 23.50. The stock has a 50 day simple moving average of $9.67 and a 200 day simple moving average of $12.24.

Indivior (NASDAQ:INDV) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.15. Indivior had a negative return on equity of 351.08% and a negative net margin of 0.17%. The firm had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $302.25 million. On average, sell-side analysts forecast that Indivior PLC will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INDV shares. Piper Sandler restated an “overweight” rating and issued a $16.00 target price (up from $15.00) on shares of Indivior in a research note on Friday, October 25th. Craig Hallum dropped their price target on Indivior from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, October 11th.

About Indivior

Indivior PLC, together with its subsidiaries, engages in the development, manufacture, and sale of buprenorphine-based prescription drugs for the treatment of opioid dependence and co-occurring disorders in the United States, the United Kingdom, and internationally. The company develops medicines to treat substance use disorders, serious mental illnesses, and opioid overdose.